Tuesday's session was a bit odd from our point of view. Dax initially descended to our support at 11 646, but rather than bullish correction we hoped for, price action rather slowed down. Dax then closed near it's intraday low and today we open with an ascending gap.
Important zones
Resistance: 11 691
Support: 11 560
Statistics for today
Detailed statistics in the Statistical Application
The statistical probability of breaking yesterday's low is 96%
Macroeconomic releases
NIL
Today's session hypothesis
Considering the very high probability for breaking yesterday's low, then all our short trades have a clear target. If yesterday's low gets broken, we can estimate a faster move towards 11 560 which is a really nice support level. Sellers are likely to step in around 11 691. Should Dax break yesterday's high, then the short hypothesis becomes invalid as the statistics suggest the breakout of both swings is as low as 7% only.
Important zones
Resistance: 11 691
Support: 11 560
Statistics for today
Detailed statistics in the Statistical Application
The statistical probability of breaking yesterday's low is 96%
Macroeconomic releases
NIL
Today's session hypothesis
Considering the very high probability for breaking yesterday's low, then all our short trades have a clear target. If yesterday's low gets broken, we can estimate a faster move towards 11 560 which is a really nice support level. Sellers are likely to step in around 11 691. Should Dax break yesterday's high, then the short hypothesis becomes invalid as the statistics suggest the breakout of both swings is as low as 7% only.